The 2024 tax year starts on April 6 2024 and runs through to the 5 April 2025. Knowing when the new tax year starts in 2024 is important for a range of reasons for both employed and self employed people.
Start of the tax year 2024 brings with it potential changes to normal tax codes and tax free personal allowances.
Some other important tax free allowances (like the personal allowance) and tax reliefs reset for the 2024/25 tax year on the 6 April 2024 which means you can use them again or start using them for the first time.
Understanding what can be done to benefit your 2024 tax position at the start of the tax year can help you avoid missing out on valuable tax reductions, tax free allowances and checking other information like your tax code.
When does the 2024 tax year stop?
The 2024-25 tax year ends on 5th April 2025 signifying the completion of the entire tax year with the new tax year starting the next day.
Also known as the tax year end the 5th of April 2025 is used by HMRC as a deadline for various tax related tasks such as claiming tax reliefs, making income tax payments, and submitting documents like an SA tax return.
HMRC utilises the tax year end as a cut off date for claiming a range of tax reliefs and tax free allowances from the 2024-25 tax year which if not claimed in between 6 April 2024 and 5 April 2025 can be lost permanently.
Tax rebates and the start of the tax year 2024
The start of the 2024 tax year is a vital date if you are owed a tax rebate from the 23/24 tax year.
April 6 2024 is the first day that allows HMRC to calculate how much you may be owed back from that tax year.
It is also your first opportunity to submit a tax rebate claim for the 23/24 tax year for a variety of reasons for example work expenses processed on a HMRC P87 form.
The 24/25 tax year is the deadline year for submitting a PAYE tax rebate claim for the tax year 2020/2021 with the 5 April 2025 being the last day on which HMRC can accept it.
When do you get a tax rebate 2024?
When you get a tax rebate in 2024 depends on the type of tax you are being refunded and HMRC timescales.
A tax rebate owed through pay as you earn (PAYE) which is issued automatically by HMRC will be calculated and issued following the end of the 23/24 tax year on the 5 April 2024.
How long it takes HMRC will be variable and could take longer if your employer(s) hasn’t provided them with the pay and tax information HMRC needs.
For tax rebates from the 23/24 tax year which have to be claimed on an official form like an online P87 HMRC should keep you up to date with their expected timescales for processing and payment.
A repayment of tax through self assessment will be issued after you have submitted your tax return to HMRC for the 23/24 tax year.
Check your 2023/24 tax year P60
At the start of the new year tax year 2024 your employer or pension provider should give you your P60 from the 23/24 tax year.
When you get your 23/24 P60 from your employer or pension provider it’s often worth checking that the figures are what you would expect especially the gross pay, tax paid figures and your final tax code.
You can access further information about your tax history including tax code(s) online via the HMRC app and personal tax account services.
2024 UK tax year dates
You can find below some of the PAYE and self assessment important 2024 tax year dates that you should mark in your 2024-25 tax calendars:
- 6 April 2024: Start of the 2024-25 tax year.
- 6 April 2024: First day for submissions of PAYE tax rebate claims for the 2023/2024 tax year.
- 6 April 2024: First filing day of 2023/2024 tax year self assessment tax returns.
- 31 May 2024: Deadline for employers to give their employees a 2023/2024 P60 form.
- 6 July 2024: Deadline for employers to submit the 2023/2024 tax year P11D(b) expenses and benefits form to HMRC.
- 31 July 2024: Self employed deadline to make a second payments on account based on income tax owed from the 2023/2024 tax year.
- 5 October 2024: SA deadline for registering as self employed with HMRC for the 23/24 tax year.
- 31 October 2024: Self assessment deadline for 23/24 tax year tax returns in a paper format.
- 31 January 2025: Self assessment deadline for 23/24 tax year tax returns submitted to HMRC online.
- 31 January 2025: Payment of income tax owed through self assessment from the 23/24 tax year.
- 5 April 2025: The final day HMRC can receive a PAYE tax rebate claim from tax year 2020/2021.
- 5 April 2025: End of the 2024-25 tax year.
